The stock market surged during the week of April 13–17 with the S&P 500 and Nasdaq hitting record highs. Markets rallied on hopes of a peace deal between the U.S. and Iran, which intensified after Iran indicated it would reopen the Strait of Hormuz following a ceasefire. This news reversed previous oil price surges, providing relief to global markets. Banks began reporting solid first-quarter results, indicating economic resilience despite geopolitical tensions. The tech sector was incredibly strong last week, with Tesla leading the way with a much needed 15% rally, while Microsoft hit its highest weekly increase since 2007. The tech-heavy Nasdaq experienced its longest winning streak since 1992, rising for thirteen consecutive days. The S&P 500 officially closed above 7,100. Already this month, the S&P 500 has climbed almost 10 percent, which would be the best monthly gain since 2020 when markets were rebounding from the pandemic-induced sell-off.

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The stock market experienced a strong, rally-driven week from April 6 through to April 10, 2026, driven by a potential U.S.-Iran ceasefire easing geopolitical tensions, which caused oil prices to plunge. A reported two-week pause in the Middle East conflict spurred a massive "risk-on" rally early in the week. On the news of the ceasefire, oil prices experienced their biggest one-day decline since April 2020, which took some pressure off inflationary concerns, though oil saw some volatility late in the week. Major indices saw significant gains for the second consecutive week, with the S&P 500 up about 3.6% and the Nasdaq leading with a 4.5% gain, despite a pullback on Friday due to hotter-than-expected inflation data.

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So this week was only a four-day trading, Monday March 30 to Thursday April 2, due to the Good Friday holiday. The stock market was heavily driven by geopolitical tensions in the Middle East, with oil prices surging above $100 and driving volatility. We saw big gains early in the week followed by a tumultuous Wednesday night trading session due to the Trump's speech, where we saw those early week gains fade. But markets rebounded late Thursday on potential diplomatic resolutions regarding navigation in the Strait of Hormuz. With Thursday seeing a sharp decline followed by a rebound to positive territory, that may suggest a desire among traders to avoid weekend risk exposure amid the rising conflict. I know I tend to flatten out a bit when we have these three-day holidays. I don't like having a ton of risk over the long weekend, because a lot can happen. All it takes is one tweet!

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